Vancouver Price Drop

Documenting Vancouver real estate price movements

The Weekly Flip Flop – May 18, 2012

We’re back with the weekly flip flop tracking homes that were increased by the largest percentange over the past week and we’re tracking a new little nugget of information, the open house.  This will make it easier to see price manipulation as it relates to open houses and also generally open houses indicate that the seller is more anxious to sell when compared to someone who throws on a listing at some price hoping to catch something.  Open house information is as of yesterday so previous open houses will not appear.

#1) Address:# 208 5430 201ST ST, Langley City, Langley

March 09 F1129385 $365,000
May 12 F1129385 $256,900 $-108,100 -30%
May 15 F1129385 $356,900 $-8,100 -2% 39%
Open House: May 19

Assessment: $359,000

CORNER STAIRFREE 3 bdrm condo is the ultimate in space & features at award winning Sonnet. 1501 sqft and loaded with extras: full size independent Double Garage, huge storage locker a few steps away, open style kitchen & living room with large granite island, wine rack, eating bar & deep drawers. High quality Italian fixtures, Plus wet bar or veggie sink with granite counter & additional cabinets. 2 balconies each with retractable screen door. Air conditioning. Luxurious ensuite with rain shower & almost new walk-in jetted (safe step) tub. Spacious foyer for gatherings or wheelchairs. 9′ ceiling. State of the art gym with 3 plasma TVs, library, party room. One level living with space you need, luxury you deserve.

#2) Address:8168 SELKIRK ST, Marpole, Vancouver West

May 04 V947485 $1,680,000
May 16 V947485 $2,280,000 $600,000 36% 36%
Open House: May 19

Assessment: $1,652,000

Prime Location! Well kept quality over 3400 sqft home in desirable Marpole area. Great family floor plan & 4 large bedrooms up with 3 full baths (2 ensuites). Spacious main floor with formal LR and DR, office, large family room and sunny kitchen. Bright basement can be one bedroom suite with separate entrance. Bonus 3 car garage. School catchment: Churchill Secondary School. Open House on SAT 2-4pm

#3) Address:19400 SILVERHOPE RD, Hope Silver Creek, Hope and Region

March 09 H1104241 $199,000
May 02 H1104241 $219,900 $20,900 11% 11%
May 18 H1104241 $249,900 $50,900 26% 26%

Raising the price until he gets a taker?  Brilliant…

Assessment: $155,000

Build your dream home on this private secluded 4+ acre forest of majestic cedar, Douglas fir and hemlock. Flat plateau for building site with most services including water, power, gas and telephone. Septic site has been approved and geotech report available. Large acreage yet close to town ready to build with driveway in.

#4) Address:630 E 19TH AV, Fraser, Vancouver East

March 09 V935623 $959,000
March 16 V935623 removed
May 17 V950628 $1,199,000 $240,000 25% 25%
Open House: May 17 and May 19

Assessment: $1,037,600

Opportunity knocks! Unbelievable double lot price and location in Vancouver Hot Main-Fraser area. Approved sub-dividable two 24.75’x122′ lots. RS-1 zoning. Selling At Lot Value Only! This property is perfect for builders, developers – with potential upside, as well as custom home owners, very affordable lot in central location of Vancouver! At this price, you can afford to build your dream home! Note: House is livable. Open House Sat May 19th, 2-4pm.

#5) Address:2351 W 34TH AV, Quilchena, Vancouver West

March 21 V938134 $2,998,800
April 30 V938134 removed
May 02 V946713 $2,480,000 $-518,800 -17%
Open House: May 6
May 17 V946713 $2,998,800 $0 0% 21%

Assessment: $2,718,000

Excellent value! Exceptionally well-maintained 7 bedroom character home in prestigious Quilchena, sitting on a 60x 130 SF lot. Floor plan available. No oil tank, certificate available. Mountain & City view potential with new build.Central location close to shopping, transit and the best schools Vancouver, has to offer! OPEN HOUSE .Sat, May 06, 2012 from 2:00 – 4:00pm.


3 responses to “The Weekly Flip Flop – May 18, 2012

  1. dg May 18, 2012 at 11:10 am

    The first one in Langley must have been a mistake in inputing the number on mls. That would seem to be the case.

    • an observer May 18, 2012 at 2:25 pm

      You might be right about that given the prices but it is strange that the wrong price was left for 3 days and I’m fairly sure I remember they had an open house that weekend when the price was dropped. Maybe an “on purpose mistake”?

  2. Mike Hawk May 18, 2012 at 1:36 pm

    Great idea, great blog. Please keep up the good work. It’s so good to know that not everybody in this country is financially stupid.

    I won’t feel the slightest bit of sympathy for all the greedy mofos that will be underwater, with their financial lives screwed, once this stupid, artificial, backstabber market goes down the drain.

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